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together to stop us from becoming greece. >> yes. >> man up, barack obama. strong words. >> he has a chance to be an historic president. what makes us greece? it's not because the tax code is at 35% versus 39.6. what's going to make this country greece, like every other western nation, retiring at 10,000 a day in terms of baby boomer, three workers for every retiree, in 20 years we'll have two. medicare and social security are about $30 trillion underfunded. if you did what tip o'neill and ronald reagan chose to do, reform entitlements, we become the most dominant place on the planet pretty quickly. so what i would plead with the president to do is use this mandate. redo revenue, which we should. but what keeps us from becoming the country we want to be and damns the future generations is entitlement and spending. when i was 21, my mom died, when i was 22 my dad died. if it wasn't for social security survivor benefits, my sister would have never gone to college. social security is going to fail. when i was 22 we needed the 300 and something bucks we got a month. i'm 57, i have no kids, i co
the region's financial authorities will monitor greece's bond buying back program. he says the finance ministers will sign off in the next round of loans t greece wn they meet again on december 13th. the ministers also talked about spain. they decided to provide up to nearly $40 billion euros. they're decision came after the bailout fund to sure up its constituti institutions. the nikkei average at 9,434. that's a loss of one-fourth of a percent. the dollar is slightly losing ground. dollar yen changing hands at 82.13 to 17. euro stands at 107.19 to 24. analysts say investors are selling the dollar following the release of u.s. manufacturing data. it was the lowest in almost three and a half years. more investors are showing interest in the weakening yen. taking a look at other markets, south korea's kospi is trading lower. let's take a look at australia. it's trading lower by almost a third of a percent. there's hope for floundering bas bas basic electronics firm sharp. the firm is expected to receive part of the that sum as early as this month. sharp is forecasting a record net loss
that the andard & poor's has upgraded greece's sovereign credit rating by six notches. the ratings agency cited the country's commitment to debt reduction and monetary injections by international lenders. s&p raised greece's credit rating on tuesday from selective default to b-minus. the new rating is still low and not suited to investment, but s&p officials say the outlook is stable. the greek government bought back sovereign bonds from commercial banks and the private sector earlier this month at prices lower than the face value. s&p officials praised the euro zone members' decision to provide greece with financial support. they say the upgrade reflects s&p's view that greece's neighbors are serious about keeping the country in the eurozone. >>> back here in japan the trade deficit came to about $11.3 billion in november, posting a red for a fifth month in a row. finance ministry officials say the figure is a record high for november. that's the third highest level since comparable records became available back in 1979. exports fell by 4.1% from a year earlier in yen terms. exports have falle
of 8 months to the next federal election in germany, for instance. greece therefore is the sick person europe. of the world. meanwhile, the united states of america is ungovernable. you have a system in this country that was created to create this country as an ungovernable state. you have congress, the president canceling each other out. how the president -- whoever the president might be -- do anything? you have china -- finding it impossible to provide a replacement for the demand that the west has done away with. so, i do not have an answer for your question. bewilderment. >> my question is about consumer demand and the extent to which the old system depended on it. if we do not have it to the same degree, could there possibly be a new economy? i cannot know how to say all of these in the right economic terms. i will say what i am thinking and see what you make out of it. its teams like all the economy's got to a point where it had to be based on growth. it could not just be sustainable. it had to grow. and that meant more consumers. so, then, that led to a lot of things ecological
corruption by local officials. and jeffrey brown samples the poetry about greece's financial woes and its austerity measures. that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: the election commission in egypt confirmed today the new constitution won nearly 64% of the vote in a referendum. the panel also reported turnout was just a third of the country's 52 million registered voters. president mohammed morsi and his muslim brotherhood backed the draft constitution. opponents warned it paves the way for islamic rule and curbs on civil liberties. the six persian gulf arab nations demanded an end to what they called iranian interference. they issued a statement today at the end of the gulf cooperation council's annual summit. the statement gave no details. the six u.s. allied countries, also called for swift international action to end the bloodshed in syria. in central asia, a military plane crashed early this morning in kazakhstan killing 27 people including the country's head of border security. the russian-made aircraft went down near a so
the latest. greece's debt crisis turns its hospitals into virtual ses pools. how it is spawning health disaster that could reach far beyond its borders. piles of money coming up. ♪ . [ abdul-raid ] i've been working since i was about 16. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ music is a universal language. but when i was in an accent... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i neverissed a beat. we're more than 78,000 people lookingut for more than 70 million americans. that's health in numbers. unitedhealthcare. melissa: now onto the middle east. the pressure not letting up for egyptian president mohammed morsi. reports say he is ready to postpone the scheduled vote on the new constitution which would cement
? >> greece has been upgraded by a rating agency, scott. s&p has upgraded to b from b minus because of a commitment to keep greece within the eurozone and to keep funding them. it's something that we haven't seen in years, maybe decades. greece has now been upgraded when it comes to their outstanding bonds. back to you. >> the euro is getting a bump. it the highs of the day. 132 euro dollar. >> the s&p is believing that there is a strong commitment to keep doing what it takes to keep them in, whether it's cutting the interest rate, he can tending the maturities, et cetera, that that could lead to more stability in the eurozone. >> michelle, thank you very much with that important news on greece. let's get back to our discussion the indicates is being made for and against oracle. >> i'm not going to taint oracle because of hewlett-packard's misstep after misstep after misstep. extremely disciplined. they are strategic in terms of the acquisitions that they make. and 50 or 100 times, and 36 billion to 37 billion and expecting for 2013, 38 billion. if they miss an acquisition -- >> int
and stalin of -- >> dividing up -- >> yeah, the british will get 90% of greece. the russians get 90% of bulgaria, and hungary, and divide it up that way. it was pretty cynical. but when roosevelt dies, in april of '45, his last telegram to churchill was, we always have these minor disafremonts with the russians about we end up resolving them so let's not make a big deal. no reason we can't maintain friendship after the war. when truman gets in there in 1945, april 12, he immediately takes a different course. roosevelt's alliance with the wartime alliance with the soviets was still very strong at that point. but truman turns to advisers who roosevelt never trusted in the first place, didn't pay any heed to, people like burns. the second day of the 13th -- burns in south carolina, a private plane, and as -- burns gives them same message, the soviets are break all their agreements. they cannot trusted, and within two weeks the u.s. policy tornado the soviet union is going to change in april of 1945. by the time there's that big meeting on april 23rd with molotov and april 23rd, the uni
of greece. if the long run greece would have low unemployment, but they do not, but yes, we're going to go a percent, if it happens the worse case scenario, but in five years we won't be not able to borrow money. >> brenda: julian, you can go ahead and respond. >> first of all, the ernst & young study has been debunked over and over. and number two, the bush tax cuts, if you let the bush tax cuts. the crs study was a republican study and found the same thing as the cbo. if you let bush tax cuts expire on everybody, yes, you would have negative economic impact. the two staetudies done recentl shows the top two rates, top 2%, virtually no impact. to jonas' point if you raise taxes a the lot and cut spending a lot and so austerity plan, that would have an impact. democrats were for pouring more money into the compli with stimulus and republicans wanted austerity and jonas' point is an argument against what conservatives were pushing for. >> brenda: all right. toby. >> what's the question? >> driving a smart car. >> and we did a survey of 1500 small business peoples more in the 2%, revenue or
in brussels until thursday. >> greece's international lenders say the deeply indebted nation deserves to keep getting funds for a bailout, but they continue to warn that there are very large risks that the greek economy could eventually collapse. >> the report from the european commission and european central bank comes as athens receives a long overdue installment of over 34 billion euros international aid on monday. lenders are concerned about growing political resistance to implement needed reforms. public-sector workers are calling for strikes on wednesday to protest. and the international monetary fund, which is also part of the troika of lenders to greece, has released 890 million euros in fresh bailout funds to ireland. the imf says the country is making good progress under its own two-year rescue program. >> ireland is proceeding with reforms to lower its deficit in spite of a slowdown in economic growth. the imf expects ireland's deficit to come under targets. in spite of calls to boost social spending in response to high unemployment. ireland's budget for next year and to reduce its
. >> thank you very much, harry. greece is bracing for more public-sector strikes against government austerity measures. the rail system has ground to a halt. but there has been good news. rating agency standard and poor's upgraded greece's standing, making it much easier to borrow money in international markets. it is the second-biggest fine levied on a bank. switzerland that the ubs agreed to pay $1.5 billion in penalties. regulators in the u.s., u.k. and sorts when charged ubs and manipulating a key interest rate known as libor. >> his was person -- pervasive manipulation of global benchmark interest rates by dozens of staff across three continents. and the heavy fine reflects the regulator's concerns. the ubs chief executives said those of all but the extent of the fraud and bribes maybe revealed by further criminal investigations. in just one instance revealed by the u.k. financial services authority, ubs made corrupt payments of around $24,000 a quarter for 18 months to brokers to thank them for helping them manipulate the global industry. libor is used to price more than $350
for the indebted country. the u.s. ratings agency standard and poor's has upgraded greece's credit ratings. their best reading since june 2011. >> the agency they credited the eurozone strong support for greece, and it is committed to keeping athens in the currency. the upgrade comes after the successful creek by that program earlier this month. the former ceo of car maker porsche is facing charges of market manipulation relating to the company's attempt to buy volkswagen back in 2008. >> is accused of denying portion of's takeover plans, although the move was already under way. prosecutors say that had an impact on the share price, and investors were misled. the takeover ultimately failed, and portia was itself bought out by vw. -- porsche itself was bought out by volkswagen. >> 5, 4, 3, 2, 1, and lift off. >> on board are one american, one russian, and a canadian. it will take a crack about to be would days to reach the iss. -- it will take the craft about two days to reach the iss. vulcanologists in russia have been able to get a glimpse of a spectacular eruption in siberia. it began er
the conflict in syria to the new politics of egypt, from protests in greece to the amazing olympics of london, as the year draws to a close, we'll look back at 2012 and some of the event that changed our world. -- event that changed our world -- events that changed our world. >> that was scary, wasn't it? >> that was scary. >> welcome to syria. >> a farmer goes hungry so his children can eat. they only get one soon, so each must wait his turn. -- one spoon, so each must wait his turn. >> for the spiders, the liberation has always been their ultimate goal. -- these fighters, the liberation has always been their ultimate goal. >> week meet members of the country's newest rebel army, known as -- we meet members of the country's newest rebel army, known as m23. this is their main base, about 5 kilometers away. >> some of the most isolated communities and tributaries provide the most surprises. the population of the village is 208. we're reminded that environmental decisions made today can impact the next generation. >> we did find some significant [inaudible] >> ♪ ["gangnam style" playing] ♪
the political crisis. >>> while in greece they held off protesters launching molotov cocktails. >>> the president is taking the fiscal cliff solution to the people. plus, a modern day five story ripped through the pages of a tom clancey novel. "early today" starts right now. >> announcer: this is "early today" for friday, december 7th, 2012. >>> good mornings,er one. i'm lynn berry. we're going to start with breaking news out of japan. a strong 7.3 earthquake has struck off the country's northeast coast beneath the sea bed. it shook buildings as far as tokyo and warnings were issued for miyagi prefecture. there's no risk for a widespread tsunami. we'll bring you the very latest. >>> elsewhere, all eyes are on cairo this morning as turmoil has once again overtaken egypt's capitol, this time in response to a political explosive power grab by the president, mohammed morsi. right now army tanks surround the presidential palace as thousands of protesters shout topple the regime, the same chant heard during the regime of hosni mubarak. in a tv show morsi said absolute powers he grant
♪ ♪ ♪ ♪ imus in the morning ♪ >> you won't believe how bad things are in greece, but believe this, they are getting their bailout money. it came through today. good morning, everyone, 50 billion dollars flowing into greece. it will never be repaid. new figures show the country in a deep depression. 11 million people owe a half trillion dollars. back home, speaker boehner and president obama are a little closer to a deal and both have given some ground on taxes and spending. the markets like it. right now john boehner is trying to sell it to his party. across the country, record gun sales over the weekend. "varney & company" about to begin. i always wait until the last minute. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >> we have breaking news right now on the debate within the republican party about the fiscal cliff deal. rich edson has what, what is being discussed here, what is the latest, rich? >> a plan b on
from becoming greece. no more borrowing without addressing why we're in debt to begin with. that's where the real chance for change occurs, at the debt ceiling debate. >> we're joined now by ralph sill voe. it's christmas eve. do you have some plans to do? >> it's an austerity christmas, actually. just a couple friends getting together and a couple of friends getting together and having a nice meal. >> it is not an austerity christmas. >> it actually is. we haven't had the greatest year. everything we hoped would happen. we thought this economy was going to turn around at the summer period. >> ralph, if you take a look at the stock market concerns, the dax is up 20%. >> there will be plenty of alcohol to forget. >> do you think we're going to manage to see some type of a resolution on the fiscal cliff? we're seeing a lot of finger pointing now and hearing from both sides saying it's in the other side's interest to delay these negotiations. >> i've had conversations with people in new york and working on trade floors. what i've been told by them is there is a huge number of meetin
it from becoming greece and save social security and medicare and to anybody listening to this program, i'll raise the debt ceiling only if we save medicare and social security from insolvency and prevent this country from becoming greece. >> prevent this country from becoming greece. what is your reaction to that? >> absolute and utter nonsense. this country is not becoming greece. this country -- this country, frankly, has a big unemployment problem. we have a deficit problem in the short term, not the long term. it's not a real problem now. our bonds selling higher than before and lower interest rates. it's not an immediate problem. he's saying what's worse. what he is saying is use blackmail on the entire economy like a gangster. pity if it happens to blow up. not increasing the debt ceiling -- >> already did that before. they have done it before. >> they have. >> and will do it again. >> frankly, that is obnoxious beyond belief. the president should not concede or negotiate on that basis at all. >> the president is adamant on the fact that's not a part of this conversation. >> it can
story. that i would love to, thank you. >>> greece has become the gateway to hundreds of thousands of migrants to enter the country, many of them muslims. athens remains the only eu capital without unofficial moscow. now there are plans to build one next year. will the bankrupt companies -- will the bankrupt country have trouble delivering? >> underground crowded, a legal, the place of worship for muslims and athens. dozens of these poor rooms serve be a huge community. -- dozens of these prior rooms serve out a huge community. >> we respect all religions but they did not have the respect of our muslims to provide as a regular, legal mosque for our workshop. >> the shadow of a now distant past. no mosques have been built in athens since christian greece gained independence in 1832 the omi e.u. capital without. but could that change? this was the site chosen for the first mosque. but previous promises have come to nothing in there is a financial crisis. >> there was a fear in the greek society about the construction of a mosque. we must overcome these fears. it is the commitment of
to talk about greece or not, whether i want to dive straight into the banking union and what chance have we possibly got of getting agreement. >> let's talk about greece, much more fun. no, greece we have to get out of the way. is the debt by back program going to be successful, everyone nds it will. we know that's the one little lynchpin on which everything else rests. so if it's not, the money will not flow, but everybody insists as when he headed into the euro group meeting yesterday that it will be successful. that's also what what we hear from the greeks. there's a bit of arm fwising, but it will probably go through. and then lo and behold ahead of the actual summit in the morning, they can sign up the check for the next greek installment also we hope. we're also closer to a little rescue package for cypress. spanish aid package for the banks is on track. so that was the working list last night. another thing on the to-do list. the head of the euro group confirmed last night that, no, i will not extend anything now, i will definitely leave as head of the euro group at the end of thi
't get. see if you can do better. it wouldn't take much. >>> greece's national bank euro bank alfa and perez says they need the money following disclosures by the lenders last week. greece is concerned that the 50 billion euros set aside for bank recapitalization will be enough to cover the shortfall. >>> and the italian treasury is holding its last debt sale of the year. traders are expecting to see solid demand for the paper after rome placed nearly 12 billion euros of shorted dated paper just yesterday. still, they warn investors could become more discerning in the new year especially as the italian electric tore ral race on thursday. italy expects to raise around 10 billion euros next year. less supply. we know there's still plenty of investor demand and no sign necessarily of re-ignited concern about the longer term health of these -- you could call them peripheral economies. >> no. things have really improved. it's all still down to the ecb's pledge to support these countries if they fulfill the conditions. especially in the case of italy. the country is fulfilling conditions
with the resources at hand. -- >> the c.s. becoming like greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic product, that inhibit future economic growth in a significant way. this is just about -- not just about numbers on page, it is really about opportunities for people. whether you will be able to send your kid to school, to college, whether it will be able to buy a car, my house, whether we will have economic opportunity for the people of the country. the best academic research that has been done shows that if a country's debt gets too large in relationship to the size of its economy, the economy does not grow as fast. opportunity is lost. jobs are lost. so there is a similarity with what is happening in europe and what could happen here if we don't get our house in order. >> you talk
. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on
the wires. we have quite a bit of support for the euro because of the s.a.p. upgrade on greece and the situation over there. we'll see also the way the market is reacting. let's have a quick look at what the dax is doing. it's been perky, up 0.15%. trading toward the 7,665 level. >> patricia, this comes at a time when people have been focusing on the strength of the euro. as we're over the 1.32 level you mentioned, certainly member countries would like to see a weaker currency. but as long as the surveys hold consistent with strength in the german economy, we're not likely to see that weakening. >> no. absolutely. and the more we get over the entire question will the euro break up or not, as long as that happens we will have some more support in the euro which is not bad if you think about the quantitative easing we've seen in the eurozone and also inflation. that could be the counterpart of the equation, that we still have money being pumped into the economies wheroe ouausterity is going on. we have a little pullback possibly going forward when it comes to the euro. then again
risk at the moment? we'll keep giving greece money because we can't afford not to. we're still waiting maybe for the ecb to step in. what is the till rask? anything we didn't know about? >> lots of things we don't know. that's the problem. it is the unknown unknown as they say. i think greece is probably too small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's saying. >> what is your view on what happens to spanish growth? >> i think spain has a lot of problems at the moment. it's not seeing a lot in the domestic market. not seeing it move toward an export. in which case spanish growth is going to be very, very weak for some time to come. >> all right. good to see you. thanks very much. alan
. there is no argument there as there wasn't for greece. we know the countries, italy, greece is in a crisis and it's a crisis due to lack of competitiveness. going back to the currency, under the currency they create a wave of all sorts of problems including inflation and i think it is not a good route. >> well, i do rather agree with paula on this one. the problem with the euro is it gives you easy and quick solutions. and we're going to keep developing your currency. as you go back to the old days where you keep lowering your currency and you pay relatively high rates on your debt. so the appeal of the euro in the beginning was, oh, chief debt. it looked like christmas. now we're discovering that that regime, a ten-year regime where many peripheral countries got hammered. only germany sort of really held it together. now we have to look at how to undo this. for countries who have no ambition about their future, then maybe the policy is the way to go. italy had so many things going for it that falling back, that seems almost -- >> how about the service in the g-7. >> italy is two countries. it's
reached on the banking up. it's integrity is good for the agreement and as we focus on greece today, conditions are in place to disburse the next tranche of aid to greece totalling 43 billion euros. >>> over to japan, voters are heading to the poll on sunday. the major indicators suggest a win for the opposition party. the local media says there is still a large pool of undecided japanese voters. kari enjoji has more on this report from tokyo. >> reporter: 12 parties, some less than a month ole are fielding 1,504 candidates. but instead of being slow for choice, voters say i just don't know. polls suggest the prime minister's democratic party is unraveling, hinting that many first-time politicians that swept the party to a victory three years ago could be wiped out. >> it's quite possible that the cpj will sink from neing first or second but possibly to even third parties in japanese politics. >> the dpj's handling of the fukushima disaster and undelivered economic promises have alien ated many voters. if the liberal democratic party wins, shinzo abi could with the newest restoratio
this administration. we have to reduce spending. we are heading down the same path that greece did. right now the democrats are talking about raising taxes on the top 2%. if we do not stop the spending, we will be back here again maybe one year from now saying, maybe we need to raise taxes on the top 25% or 50%. then everybody will be taxed and we will run out of money. what is going to happen is the federal government is not going to be able to take care of its obligations. you are not going to be able to have safety nets. social security and medicare are going broke. we have to fix those of those who are dependent on those systems can get them. continuing to spend money like both parties have been doing the, wild spending is going to lead us to be just like greece. we are not going to be able to take care of the poor or the needy or take care of senior citizens. we have to stop spending. host: this is fiscal year 2010, but it has not changed significantly in terms of percentage. 41% of the federal budget. not defense appropriations 19%. defense spending 20%. the national debt 6%. we're in t
sides warning they may go the way of greece. taking away two different lessons. who has it right? our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? i had[ designer ]eeling enough of just covering up day! my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin.
ban them and it -- >> greg: the funny thing is we talk about greece, but before there was greece, there was detroit. detroit is greece. if it was only the acropolis. dead city. people left because they couldn't make a living, the unions suffocate pod tenial. >> bob: true about toledo and cleveland and cincinnati? the northern cities that have had bleed of workers? >> eric: i will make a wage with you. now that snyder signs it off and right to work, i bet an auto company goes -- brand new, never done business before in detroit. >> kimberly: you will lose this bet, bob. >> eric: coming up, 2004 south korean singer rapped about killing americans in 2019 and is invited to perform for president obama. ♪ ♪ >> eric: maybe not. we will gangmam bang it out next. and make sure you go to the facebook page. we are updating and posting click like. we'll be right back. ♪ ♪ [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only
and stalin in october of 44. dividing up -- the british forget 90% of greece and the russians would get 90% of bulgaria and hungary and they divided up that way. it was pretty cynical. but when roosevelt dies, in april of 45, his last telegram to churchill was, we always have these minor disagreements with the russians but we end up resolving them. so let's not make a big deal. there's no reason we can't maintain friendship after the war. when truman gets in there on april 12, 1945, immediately takes a different course. roosevelts alliance with the wartime alliance with the soviets was still strong at that point the truman turns to advisers who roosevelt never trusted in the first place and didn't pay heed to. people like burns and second day he flies burns through his private plane and burns gets german the same message. the soviets are breaking all of their agreements and they can't be trusted. and so what we are going to see is within two weeks the u.s. policy toward the soviet union's going to change in april 1945. by the time there's the big meeting on april 23 with molotov and on apr
at greece, greece has been very adept at increasing their debt ceiling. now they have 25% unemployment. there are people who can't even finds jobs in cities are having to move out according to press reports to rural areas. that could be our future. as tom said, if you gave the president every job forming tax increase that he's asked for, it's about 3% of the spending. and the president himself has said that the drivers of our debt are medicare, medicaid and health care. nothing else comes close. >> congresswoman stabenow pointed out -- >> you have to deal with the structural reforms to our entitlement spending. protecting current seniors but helping to insure my 10-year-old daughter and 9-year-old son that these programs are around for them. >> medicare savings, lot of republicans not you but a lot of republicans in the last campaign including mitt romney ran against. >> well, george, first of all, the $700 billion in savings doesn't save the government a penny, it takes that and spends it on other people. what -- it's really important that people look. the government is twice the size
the arts in schools. more than a christmas play is a play. one of my favorite times in school. greece, we did greece in the -- grease, we did greece -- grease in my class. and i was kinicki. >> can you do that? >> i need the wig. >> i played rizzo and i didn't need the wig of the. >> you're welcome. >> patrick, i didn't really understand or agree with your argument, you said something about because joe success was a historical figure. but that has nothing to do with what christmas celebrates. it is celebrating the birth of the son of god. >> but the point is, there is a historically relevant component to that for nonchristians. people who do not claim to be christians or are not christians their eyes will not burn out of their head by watching something that does that. >> jesus in a manger. >> but the entire point of christmas is that jesus is the son of god. it is not that he was a man. >> the point of christmas, jesus the son of god was born that day. >> right, exactly. the son of god. i'm confused. >> you are trying to have a fight about jesus christ. >> i am not having a fight about i
into the southern belly of the nazi empire, italy and the balkans, regaining greece which is a tremendous story. everyone talks about eastern europe. as an outsider i see what about the british when they went back into greece in 1944 and started bombing the streets of athens and killing the people, the communist resistors that fought against the nazis. the british were ruthless. that is another point. people say look at what stalin did in poland. he broke the altar. i don't believe they did. i will tell you more about that. look what the british did. but we did increase in the cold war period, the early cold war period we and the truman doctrine of 47 to 49, we had american advisers and early vietnam there were already over increase read the the british coal is truly to get back the mediterranean, along the region's coming get iran back in the conflict in iran in 1945. beyond that, it's crucial. we showed that in the beautiful maps. he gets to the far east and it is the richest resources around known to britain, not us. so then it isn't -- you can't dhaka the u.s. soviet relations without talki
. the promise of another bail out funding for greece is keeping the market stable. let's get a check on tokyo markets. on the tokyo foreign exchange the dollar is trading in a narrow bend. that's 82.53 to 55. traders would like to confirm how the u.s. is performing. it's now back above the 107 levels. 107.05 to 10. let's take a look at stocks. japanese share prices are a little change. the nikkei trading above the 9,000 mark. 9,558 so far this morning. looks like everyone is waiting for the u.s. jobs data. let's take a look at the jobs market in the asia pacific. kospi is trading at the central bank's role has become a key focus in japan's general election. the leaders othe ruling party have expressed contrasting views on what the bank of japan can and should do. our business reporter spoke with two economists for their take on the issue. >> translator: debate had heated up ever since banks were urged to take strong action. >> translator: we will boost public spending. that's going to force new money into the market. this will have a positive effect on the economy. >> reporter: the comments h
greece or italy? twenty years? i don't know. this trendline is bad. happening under bush and obama. it does not work. john: good intentions and that go bad. clean energy's. >> solyndra. the tip of the a's spurred. dozens of companies go bad. the story behind the story. campaign contributors contributors, interest free loans from the government, distorting capital, it means resources are being used less productively and workers get lower wages and it adds up to the bad situation. john: president bush says it to oklahoma you take care of things it is good for the economy. >> collor you create a housing bubble. those people were the ones that had to walk out onto the plank then we all fall into the shark infested waters 87 tax credits. >> sounds great. but from the tax code in 1913 only 14 pages we have warped into the 702000 page monster. more than 1,000 different forms to download. nobody understands. h&r block loves it but it is a news around the neck of the american economy. every page has something in it that sounds good but look what it adds up to 27 spending. the welfare state.
and to restore growth and jobs in countries such as greece and spain. >>> a new york judge announced an agreement for the international monetary fund and housekeeper. they have accused dominique can and dominique strauss-kahn had agreed to pay $6 million. >>> officials confirmed a private plane that went down in mexico yesterday was carrying popular americans mexican singer jenny rivera. a vigil was held in southern california last night and the singer was at the peak of her fame. she was also a reality television star an advocate for domestic violence victims. she leaves behind five children and two grandchildren. >>> a nevada woman who survived said she asked her boy february not to -- boyfriend not to venture out for help after they became stuck. she said they should stay with the vehicle and ride out the storm together n an interview she said she knew she would never see him again and she was rescued six days after she and clifton became stranded in the remote valley. clifton's body was recovered the same day. >>> they are cracking down on repeat drunk drivers and we will be whapping for seve
't want to become greece or france or one of these stagnant slow growth welfare states. think evidence is very clear that fiscal policy does matter for an economy's performance. doesn't mean we have a recession if taxes go up but it does mean that government will be bigger and our growth rate in the long run maybe instead of 2.7, it is 2.6. that doesn't sound like much but because of compounding it adds up. adam: dan, i don't think there is any danger we become greece or france in a lot of ways. we're not a socialist country yet and greece is a whole different ball of wax. rich, the discussion about the economy, the spending cuts that they're talking about do put people out of work and that would have a negative effect on the economy, would it not? >> it would, adam. real quick, a bit of news here. president obama will deliver a statement at 4:45, something i imagine we'll cover live here on fox business. adam: we will. >> 5:45 president obama deliver as statement here at the white house. as far as spending cuts are concerned, you see this argument, you typically hear republicans say,
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